Introduction to The Political Economy and Feasibility of Bitcoin and Cryptocurrencies

Abstract

Some, especially of the older generation, agree with Roubini and others that "Crypto is the mother of all scams" and blockchain is "no better than a spreadsheet/database". Yet, if there is demand for a good, such as fine wines, or bitcoins, and its supply can be kept limited, then that good will have a positive price. As with Plato's ideal forms, bitcoins and cryptocurrencies may in some ways be more real and ideal than more earthly forms of money.